The tax-exempt market opened on a quiet note Tuesday morning as traders slowly got back to work following a three-day weekend.
Bond markets were closed Monday for Columbus Day and trading was quiet to start the week, a Chicago trader said. "D.C. is taking a bigger toll than people think," he said. "No one is willing to put capital at risk." With the government shutdown extending into its third week and the debt ceiling approaching Oct. 17, traders were cautious.